When ever something is being imported or exported the freighht given is $--- FOB destination i just want to ask what ths fob stand for
2006-08-20 01:44:54 · 7 answers · asked by asrar n 1 in Cars & Transportation ➔ Aircraft
FOB stands for Free On Board (not freight on board, free on boat, freight on boat, etc.) It identifies the point to which shipping charges are prepaid by the shipper. It also identifies the point where the shipper is no longer liable for the conditon of the goods.
FOB destination means that the price includes shipping charges paid to the destination. FOB origin means that the shipper pays none of the shipping charges at all.
With ocean freight you're most likely to see it used with the name of a port, such as FOB New York or FOB Los Angeles. That means that freight charges are paid to the port and you are responsible for the charges from the port to the final destination.
With foreign shipments you'll usually see the name of the port of origin, such as FOB Shanghai. That means that the price includes the inland freight charges to the port of departure and you are responsible for all subsequent shipping charges -- ocean freight to the destination port and inland freight from the port to the final destination.
The recipient assumes responsibility for the condition of the goods at the FOB point. Up to the FOB point, the shipper files damage claims with the transportation company. From that point onwards, the recipient files the damage claim.
2006-08-20 03:02:53 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
FOB stands for "free on board" (not freight on board as many people think). When it's followed by the word destination, that means that the seller pays the freight and owns the goods until it reaches its destination. FOB shipper means the purchaser pays the freight and owns the goods as soon as it leaves the sellers dock.
2006-08-20 08:54:41 · answer #2 · answered by rosecitylady 5 · 1⤊ 0⤋
FOB means FREE ON BOARD, meaning that this object of import to the foreign country is placed on board the Ocean Going vessel at the cost of the seller or the exporter, and the price contains the component of the cost of the transportation in the foreign country until is is placed on board the ship.
2006-08-20 08:51:55 · answer #3 · answered by saroshsb 2 · 1⤊ 0⤋
The above two answer is incorrect. F.O.B means free on boat i,e, if you want to import any thing from a country, the seller (exporter) will delivery the goods up to ship of his country and the cost of taking goods to your godown will be your part.
2006-08-20 09:04:14 · answer #4 · answered by Expert 3 · 0⤊ 1⤋
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2014-06-19 02:03:50 · answer #5 · answered by ? 1 · 0⤊ 0⤋
uh
2006-08-21 02:34:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋
FUEL ON BOARD!!!!
2006-08-20 10:52:51 · answer #7 · answered by Anonymous · 0⤊ 2⤋